The Works Package

Everything you need in an easy to manage home loan package.

what's included.

100% Offset Account

It comes with a 100% offset account to make your home loan repayments^ while reducing the interest you pay on your home loan.

Redraw facility

Enjoy the flexibility of making extra payments and you can redraw your funds when you need them.

Credit Card

Pay no annual credit card fee on our no bull low rate credit card provided you satisfy The Works Package conditions.

Split Loan Option

Slice and dice your home loan with fixed and variable options. By combining the two, you can enjoy the security of a fixed interest rate and the flexibility of a variable.

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Things you need to know

Interest is calculated daily on the outstanding balance, and charged monthly in arrears on the last day of each month. Refer to our rates and fees for more information.

Fees applicable to this product include:

  • Package fee: $395 annual fee for up to five loans
  • Application fee: $600
  • Valuation fee: estimated at $242
  • Legal fees: estimated at $440
  • Other fees may apply
The Works Package owner occupied variable   
Interest Rate Comparison Rate*
Variable (P&I) 2.50% p.a. 3.01% p.a.
Variable 1 year (IO) 2.50% p.a. 3.01% p.a.

The Works Package investment variable  
Interest Rate Comparison Rate*
Variable (P&I) 3.30% p.a. 3.79% p.a.
Variable 1-5 year (IO) 3.30% p.a. 3.79% p.a.

Extra tools and benefits

Borrowing power calculator

Learn how much you can borrow and see what your repayments could be by using our online borrowing power calculator. Simply enter your income and expenses to receive an estimate. Determine your borrowing power.

Lenders Mortgage Insurance

Are you interested in entering the property market but not sure if you have the right deposit? Consider taking out Lender Mortgage Insurance (LMI).

Tips for refinancing

Learn more about how to refinance your home loan to Illawarra Credit Union, so you can enjoy the mutual difference. Great Value. Great Service. #MakeTheMove

Prefer to split your loan? We’ve got you covered.

If you like the certainty of fixed repayments but also want the flexibility that a variable product provides, then chat to us about splitting your home loan. You decide what’s right for you.

View The Works Package Fixed home loan

important notes

*Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

^Home loan repayments must be direct debited from an Illawarra Credit Union transaction account. Annual fee payable yearly.

Eligibility criteria, terms & conditions, fees & charges apply. Please refer to the Credit Fees and Charges brochure (Grandfathered Fees & Transactions ).

For our complete package conditions review The Works Package Conditions of Use.

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